GBPJPY 1hour Analysis December 7th, 2020
Brexit talks this week could cause for some extra volatility in the GBP pairs as we near the deadline. Stay cautious on these pairs.
Price has fallen out of a rising wedge and below the 200MA on the 1h timeframe but we still have a lot of buyers at 138 level. We would like to see the 200MA on the 1h timeframe to hold as resistance to form a double top or see a bearish engulfing at the key monthly at 139.8 before looking short.
Price has fallen out of a rising wedge and below the 200MA on the 1h timeframe but we still have a lot of buyers at 138 level. We would like to see the 200MA on the 1h timeframe to hold as resistance to form a double top or see a bearish engulfing at the key monthly at 139.8 before looking short.